Sterling plummets again on new Brexit sell-off

Sterling hit its lowest level against the euro since late October 2013, piling on the pressure for Irish exporters who sell into Britain, as markets again sold off in the wake of the UK’s Brexit decision to quit the EU.

It came as Bank of England governor Mark Carney said that some of the economic risks facing the British economy that the bank had warned about before the vote could come true.

Small Irish firms selling into Britain are particularly sensitive to a sudden slump in the value of sterling against the euro, and few would have had the means to insure beforehand against such exceptional gyrations in the currency.